So, not satisfied with having financially emasculated the corporate ‘regulator’ ASIC, the Abbott government is now reportedly in favour of watering-down the Corporations Law & ASIC Act to relax accountability standards for directors.

With the plethora of recent examples where directors have not been held accountable for a range of offences, including large scale fraud, many would wonder why the government would bother tampering with a regulatory system that is already well & truly broken?

Given our readiness to appoint knights & dames, make the reporting of criminal behaviour a criminal offence, defend the indefensible, whilst debasing our judicial system to conceal great crimes by corrupt political & business leaders, it would seem that the ‘adults in-charge’ won’t be satisfied until they have succeeded in monetising even the moral & ethical foundations of our society.